Skechers USA, Inc. (NYSE:SKX) has been given a consensus recommendation of “Buy” by brokerages

Shares of Skechers USA, Inc. (NYSE:SKX – Get Free Report ) has been given an average recommendation of “Buy” by the eleven ratings firms that are covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have covered the stock in the last year is $77.82.

SKX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Skechers USA from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Evercore ISI upped their target price on shares of Skechers USA from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays boosted their price objective on shares of Skechers USA from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $82.00 target price on shares of Skechers USA in a report on Thursday, June 13th. Finally, Bank of America cut their price target on Skechers USA from $87.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, September 23rd.

Check out our latest research report on SKX

Skechers USA stock performance

Shares of Skechers USA stock opened at $66.92 on Tuesday. The firm has a fifty day simple moving average of $65.46 and a two hundred day simple moving average of $65.62. Skechers USA has a 12-month low of $45.58 and a 12-month high of $75.09. The company has a market cap of $10.21 billion, a PE ratio of 17.61, a P/E/G ratio of 0.92 and a beta of 1.23. The company has a quick ratio of 1.33, a current ratio of 2.06, and a debt-to-equity ratio of 0.01.

Skechers USA (NYSE:SKX – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers USA had a net margin of 6.90% and a return on equity of 13.04%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. In the same quarter last year, the company earned $0.98 per share. The company’s revenue was up 7.3% compared to the same quarter last year. research analysts expect that Skechers USA will post 4.16 EPS for the current year.

Skechers USA declared that its board has initiated a stock buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This buyback authorization authorizes the textile maker to buy back up to 10.3% of its shares through open market purchases. Stock buyback programs are usually an indication that a company’s board of directors believes its stock is undervalued.

Institutional Trade of Skechers USA

Several institutional investors and hedge funds have recently bought and sold shares of SKX. Redmont Wealth Advisors LLC bought a new position in shares of Skechers USA in the first quarter worth approximately $25,000. Bessemer Group Inc. boosted its holdings in Skechers USA by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares in the last quarter. Game Plan Financial Advisors LLC bought a new position in Skechers USA in the 1st quarter valued at $43,000. Versant Capital Management Inc raised its position in Skechers USA by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of Skechers USA in the first quarter valued at $45,000. 79.96% of the shares are currently held by hedge funds and other institutional investors.

About Skechers USA

(Get a free report

Skechers U.SA, Inc designs, develops, markets and distributes footwear for men, women and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under the brands Skechers Hands Free Slip-ins, Skechers Arch Fit and Skechers Air-Cooled Memory Foam.

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